European Markets React to Trump's Auto Tariffs Announcement

Major European stock indexes experienced a downturn in premarket trading this Thursday. This reaction comes in the wake of United States President Donald Trump's announcement imposing auto tariffs on all cars manufactured outside the US, effective April 2. Furthermore, Trump has issued warnings of additional duties on Canada and the European Union should they collaborate in ways he perceives as economically harmful.

Indexes and Currencies at a Glance

By 8:00 am CET, the DAX had fallen by 1.02%, while the FTSE 100 saw a 0.40% decrease. The CAC 40 and the Euro Stoxx 50 weren't spared, declining by 0.36% and 0.63%, respectively. On the currency front, the euro appreciated by 0.17% against the dollar, trading at $1.07725, and the pound gained 0.25%, reaching $1.29204 by 7:58 am CET.